Telangana High Court
M.D., M/S Vasista Foods Fats Pvt Ltd., ... vs Autd Offr, Axis Bank Ltd., Chennai Anr on 13 October, 2022
Author: P Naveen Rao
Bench: P Naveen Rao
IN THE HIGH COURT OF JUDICATURE OF ANDHRA PRADESH
AT HYDERABAD
TUESDAY , THE TWENTY SIXTH DAY OF NOVEMBER
TWO THOUSAND AND THIRTEEN
:PRESENT:
THE HON'BLE Ms. JUSTICE G. ROHINI
AND
THE HON'BLE SRI JUSTICE T. SUNIL CHOWDARY
WP .NO:28027 of 2013
Between:
M/s. Vasista Foods & Fats Pvt. Ltd., Flat No. 104, Flora Apartments,
Besides Almond House, Road No, 3, Banjara Hills, HYDERABAD - 500
034,
Rep. by its Managing Director, Sri. Ch. Koteswara Rao, S/o. Late Chava
Satyanarayana, Aged about 55 years, Occ: Business, R/o. Pat No.
203,
Sri Ram Towers, Near Community Hall, S.R. Nagar, Hyderabad - 500
038.
..... Petitioner
AND
1 Axis Bank Limited, Southern Recover Cell, 2nd Floor, No. 192,
Karumuth
Nilayam, Anna Salai, Chennai - 600 001, Rep. by its Authorized
Officer.
2 Axis Bank Limited, CMC Branch, G. Puna Reddy Complex,
Greenlands,
Begumpet, Hyderabad, Rep. by its Branch Manager.
.....Respondents
Petition under Article 226 of the Constitution of India praying
that in the circumstances stated in the affidavit filed herein, the High Court
may be pleased to issue a Writ, Order or direction, more particularly one in
the nature of Writ of Mandamus, declaring the action of the Respondents in
taking recourse to the provisions of SARFAESI Act by taking measures
U/s. 13 (4) of the Act as well the Possession Notice dated 02-08-2013
under Rule 8 (1) of the SARFAESI Act, 2002 during the currency of the
proceedings before the BIFR as being illegal, arbitrary and is in violation of
mandatory stipulation of Section 15 (1) of SICA Act and also Section 42 of
the SARFAESI Act and the established judicial precedents and
consequently set aside the same with a direction not to take any coercive
measures during the consideration of Draft Rehabilitation Scheme by the
BIFR
The petition coming on for hearing, upon perusing the
Petition and the affidavit filed herein and order of the High Court dated 30-
09-2013, 22-10-2013, 30-10-2013 & 14-11-2013 made herein and upon
hearing the arguments of SRI K. C. REDDY Advocate for the Petitioner and
of Sri R.K. Chita, Standing Counsel for the Respondents, the Court made
the following.
ORDER:
The Registry is directed to put up the counter filed on behalf of the respondents.
Post on 02/12/2013.
The interim order granted earlier shall continue for two more weeks.
ASSISTANT REGISTRAR //TRUE COPY// For ASSISTANT REGISTRAR To
1. One CC to SRI K. C. REDDY Advocate (OPUC)
2. One spare copy.
Tvr HIGH COURT RGJ & TSCJ ORDER DATED; 26-11-2013 WP NO.28027 OF 2013 DIRECTION CONTINUE DRAFTED: TVR DATED: 27-11-2013 HIGH COURT RGJ & TSCJ ORDER DATED; 26-11-2013 WP NO.28027 OF 2013 DIRECTION CONTINUE